Today’s fallout from the White House’s failed attempt to start and win a pissing match with the GOP (hey boys: next time, have a few drinks first; it’ll give you more ammunition) captured this news cycle, but the real news will happen during the Patriots’ opener next week when President Obama unveils his job plan. Robert Reich is wondering whether Obama will present a serious plan to put people to work or offer some good, but essentially without effect on the economy. Expect some mention of an infrastructure bank, a proposal that has been batted around for a while. BMGer JohnD posted about the proposal to allow people with federally-backed mortgages to refinance to today’s lower rates.
Another proposal that would help the economy and put people back to work is FAST: Fix America’s Schools Today. Using the money that currently pays fossil fuel subsidies, the federal government would launch a
national project to address this backlog could create hundreds of thousands of jobs, including jobs for construction workers, building technicians, boiler repairmen, electrical workers, roofers, plumbers, glaziers, painters, plasterers, laborers, and tile setters. It could also lead to the direct hire of building maintenance workers to help slow or prevent the deterioration of buildings and building systems, while generating new savings through energy conservation.
A national project to address this backlog could create hundreds of thousands of jobs, including jobs for construction workers, building technicians, boiler repairmen, electrical workers, roofers, plumbers, glaziers, painters, plasterers, laborers, and tile setters. It could also lead to the direct hire of building maintenance workers to help slow or prevent the deterioration of buildings and building systems, while generating new savings through energy conservation.
According to Mary Filardo, Jared Bernstein, and Ross Eisenbrey, the authors of the proposal,
Construction and building repair generally create 9,000–10,000 jobs per billion dollars spent. Eliminating even half of the entire backlog and improvements could eventually create more than two million jobs, over a period of years. Addressing even one-tenth of the needed improvements could immediately create half a million jobs.
Given the grim outlook for residential construction and the fact that 1.5 million construction workers are unemployed, a project of this magnitude would put hundreds of thousands of them back to work, which would have a large positive effect on the economy.
It’s hard to say what Obama will bring forward. He could sprinkle it with pixie dust and the Republicans would still oppose it, but si se puede.
